finally
A much needed increase, housing inventories across the
country are starting to regain their footing after months of there
being a terrible shortage of options available for sale. The most
recent completed month of June saw the inventory levels across the
country rise by 4.3% to 1.9 million properties. Realtor.com
released this welcomed news, while also pointing out that this
marked the highest amount of inventory the country has seen over
the last year.
The past two years have been highlighted by a steady
decline in housing inventory as the ripple effects of the economic
recession continued to play on the minds of sellers everywhere.
With the immense strides that the real estate market has taken over
the past year especially, there has been a massive spike in the
overall buyer demand present in the marketplace. As home prices
have continued to grow month-over-month upon their sale, it has
become evident to many individuals that now is the ideal time to
sell; hence the inventory is finally on the rebound.
Even though there was the aforementioned 4.3% boost in
inventory, Junes numbers still remained 7.3% below where they stood
from a year prior. However, despite this difference, it must be
noted that from February of this year, the year-over-year
comparison with February of 2012 saw this years inventory levels at
a staggering 18.6% less on an annual scale. Clearly, we are now
climbing in the right direction and are lessening this divide.
Boston in particular was one of the cities which saw an even more
drastic separation as there was a 35.1% difference in the housing
inventory during this past June and June of 2012. Boston, a city
often defined by cranes today, is set to see inventory levels rise
at a much larger margin compared to other cities where construction
isnt as active and where there is less optimism and successes
taking place in the real estate market.
More Information: Wall Street
Journal